Tuesday, August 25, 2009

Home Prices still going down

I find it funny that some say the housing market has now bottomed, based on today's news.

"The S&P/Case-Shiller home-priceindex declined 15.4 percent from a year earlier, the smallest drop since April 2008, the group said today in New York."

When we start hearing or read that home prices fell less than 1% year over year, then and ONLY then will we start to form a bottom! There is no bottom when prices are still falling 15%+.